USDINR day chart analysis - Parallel channel

OANDA:USDINR1D

Description

⋅ Jul 24, 2019 5:06 PM

Comment

⋅ Aug 12, 2019 2:56 AM

Channel broken on Aug 2. We can expect USDINR to move higher.

Comments

deepakshamdasani

⋅ Jul 25, 2019 6:58 AM

will the rupee get stronger or weaker ?

k314

⋅ Jul 25, 2019 11:51 AM

@deepakshamdasani, long term trend is bullish in USDINR (suggesting weakness in Rupees). 67 is going to be a crucial level. If 67 is broken we can expect Rupee to gain further strength.

deepakshamdasani

⋅ Jul 25, 2019 6:58 AM

what does it mean ?

k314

⋅ Jul 25, 2019 11:47 AM

@deepakshamdasani, it means USDINR has been trading within a parallel channel. Now its upto a trader as to how to trade based on this pattern.